Written answers

Tuesday, 27 September 2016

Department of Social Protection

Social Insurance Yield

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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365. To ask the Minister for Social Protection the projected yield if employer’s PRSI were to be raised to 2%, by 4% and by 6% across all employers. [27502/16]

Photo of Leo VaradkarLeo Varadkar (Dublin West, Fine Gael)
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In general, employers of class A employees pay PRSI at the rate of 10.75%, or at the rate of 8.5% where the employee’s weekly earnings are €376 or less.

It is presumed that Deputy is referring to a 2% increase in both rates of class A employer PRSI, as well as increases of 4 % and 6% in these class A employer PRSI rates.

On this basis, the information requested by the Deputy is contained in the following table.

Employer PRSI Rate Increase2%4%6%
Full Year Yield€1,342.8 million€2,687.7 million€4,028.5 million

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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366. To ask the Minister for Social Protection the projected yield if employer’s PRSI were to be raised to 13.75% on the portion of employee's income above €100,000. [27503/16]

Photo of Leo VaradkarLeo Varadkar (Dublin West, Fine Gael)
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In general, employers of class A employees pay PRSI at the rate of 10.75%, or at the rate of 8.5% where the employee’s weekly earnings are €376 or less.

A 3% increase in the 10.75% rate of class A employer PRSI to 13.75%, for earnings in excess of €100,000, would yield the following:-

New Employer Rate of 13.75% for Earnings

over €100,000
Full Year YieldEmployments Affected
13.75%€198.8 million226,115

Photo of Richard Boyd BarrettRichard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance)
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367. To ask the Minister for Social Protection the projected yield if employer’s PRSI were to be raised to 19.75% on the portion of employees income above €100,000. [27504/16]

Photo of Leo VaradkarLeo Varadkar (Dublin West, Fine Gael)
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In general, employers of class A employees pay PRSI at the rate of 10.75%, or at the rate of 8.5% where the employee’s weekly earnings are €376 or less.

An increase in the 10.75% rate of class A employer PRSI to 19.75%, for earnings in excess of €100,000, would yield the following:-

New Employer Rate for Earnings over €100,000Full Year YieldEmployments Affected
19.75%€596.5 million226,115

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